FHLBank Pittsburgh and its member financial institutions, First Commonwealth Bank and Brentwood Bank, recently presented Hazelwood Initiative, Inc. and Rebuilding Together Pittsburgh with Affordable Housing Program (AHP) grant funding totaling $1,834,455.
The organizations presented the funding at an event held in Pittsburgh. The AHP grants will assist with home purchases and owner-occupied rehabilitation.
“It is great to be here and see so many partners working together to help those in our community achieve and maintain homeownership,” said U.S. Rep. Mike Doyle
(D-PA), the special guest speaker at the event. “Homeownership is essential to a vibrant community because it helps individuals and families have safe, affordable places to live and thrive. I want to thank FHLBank Pittsburgh, together with its members and housing partners, and wish the homeowners all the best.”
Other event participants included Winthrop Watson, president, and CEO of FHLBank Pittsburgh; Mike Price, CEO of First Commonwealth Bank; Tom Bailey, president, and CEO of Brentwood Bank; Steve Hellner-Burris, CEO of Rebuilding Together Pittsburgh; Sonya Tilghman, executive director of Hazelwood Initiative, Inc.; and several homeowners.
“It is wonderful to learn about how much these organizations have accomplished and hear the inspiring stories of homeowners,” Watson said. “We are privileged to join our members Brentwood Bank and First Commonwealth Bank in making additional grant funding available to these organizations to continue helping our Pennsylvania neighbors.”
FHLBank Pittsburgh uses approximately 10 percent of its annual net income to fund AHP. AHP supports projects that provide affordable housing to individuals and families whose incomes are defined as low or very low. FHLBank Pittsburgh also provides First Front Door funding, which assists qualified first-time homebuyers with down payment and closing costs.